Vault-13

STRATEGY INC MSTR 0 12.01.29

NOTE 12/0 · GLOBAL · CUSIP 594972AS0

66 institutional holders
4,550,0004.5m shares reported held*
$2.3bnreported value*

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($7.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $517.88.

Biggest buyers

VOYA INVESTMENT MANAGEMENT LLC New +460,770,000+460.8m
D. E. Shaw & Co., Inc. New +416,485,000+416.5m
ARISTEIA CAPITAL, L.L.C. New +271,968,000+272.0m
Context Capital Management, LLC New +227,716,000+227.7m
Linden Advisors LP New +202,633,000+202.6m
SUSQUEHANNA ADVISORS GROUP, INC. New +94,128,000+94.1m
Calamos Advisors LLC New +90,836,000+90.8m
Verition Fund Management LLC New +90,000,000+90.0m
LMR Partners LLP New +87,500,000+87.5m
WHITEBOX ADVISORS LLC New +81,050,000+81.0m

Biggest sellers

None

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.37% of their portfolio ATLANTA, GA 460,770,000460.8m $379.5m $379.5m 0.37% New
2 D. E. Shaw & Co., Inc. 0.26% of their portfolio New York, NY 416,485,000416.5m $342.4m $342.4m 0.26% New
3 ARISTEIA CAPITAL, L.L.C. 6.37% of their portfolio GREENWICH, CT 271,968,000272.0m $224.0m $224.0m 6.37% New
4 Context Capital Management, LLC 4.83% of their portfolio LAJOLLA, CA 227,716,000227.7m $187.5m $187.5m 4.83% New
5 Linden Advisors LP 1.02% of their portfolio New York, NY 202,633,000202.6m $166.5m $166.5m 1.02% New
6 SUSQUEHANNA ADVISORS GROUP, INC. 2.47% of their portfolio BALA CYNWYD, PA 94,128,00094.1m $76.9m $76.9m 2.47% New
7 Calamos Advisors LLC 0.31% of their portfolio NAPERVILLE, IL 90,836,00090.8m $74.9m $74.9m 0.31% New
8 Verition Fund Management LLC 0.40% of their portfolio GREENWICH, CT 90,000,00090.0m $74.1m $74.1m 0.40% New
9 LMR Partners LLP 0.69% of their portfolio LONDON, X0 87,500,00087.5m $71.6m $71.6m 0.69% New
10 WHITEBOX ADVISORS LLC 1.11% of their portfolio MINNEAPOLIS, MN 81,050,00081.0m $66.3m $66.3m 1.11% New
11 MARSHALL WACE, LLP 0.06% of their portfolio LONDON, X0 70,000,00070.0m $57.7m $57.7m 0.06% New
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 64,200,00064.2m $52.9m $52.9m 0.00% New
13 Point72 Asset Management, L.P. 0.08% of their portfolio STAMFORD, CT 63,000,00063.0m $51.9m $51.9m 0.08% New
14 AQR Arbitrage LLC 1.08% of their portfolio Greenwich, CT 62,140,00062.1m $51.2m $51.2m 1.08% New
15 WOLVERINE ASSET MANAGEMENT LLC 0.72% of their portfolio CHICAGO, IL 61,500,00061.5m $50.5m $50.5m 0.72% New
16 Weiss Asset Management LP 0.59% of their portfolio BOSTON, MA 50,862,00050.9m $41.9m $41.9m 0.59% Not comparable
17 Capital World Investors 0.01% of their portfolio LOS ANGELES, CA 50,298,00050.3m $41.4m $41.4m 0.01% New
18 HBK INVESTMENTS L P 0.42% of their portfolio DALLAS, TX 47,396,00047.4m $39.0m $39.0m 0.42% New
19 BlackRock, Inc. 0.00% of their portfolio New York, NY 37,725,00037.7m $30.9m $30.9m 0.00% New
20 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 37,394,00037.4m $308.0k $308.0k 0.00% New
21 DeepCurrents Investment Group LLC 0.87% of their portfolio NEW YORK, NY 28,500,00028.5m $23.4m $23.4m 0.87% New
22 SHENKMAN CAPITAL MANAGEMENT INC 1.65% of their portfolio NEW YORK, NY 19,000,00019.0m $15.6m $15.6m 1.65% New
23 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 16,600,00016.6m $13.6m $13.6m 0.01% New
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 15,916,00015.9m $13.0m $13.0m 0.00% New
25 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 15,350,00015.3m $12.6m $12.6m 0.01% New
26 FMR LLC 0.00% of their portfolio BOSTON, MA 15,120,00015.1m $12.4m $12.4m 0.00% New
27 Capital International Investors 0.00% of their portfolio Los Angeles, CA 14,613,00014.6m $12.0m $12.0m 0.00% New
28 Parallax Volatility Advisers, L.P. 0.33% of their portfolio San Francisco, CA 13,000,00013.0m $10.6m $10.6m 0.33% New
29 Sculptor Capital LP 0.12% of their portfolio New York, NY 12,500,00012.5m $10.3m $10.3m 0.12% New
30 SONA ASSET MANAGEMENT (US) LLC 0.33% of their portfolio NEW YORK, NY 12,500,00012.5m $10.3m $10.3m 0.33% New
31 TORONTO DOMINION BANK 0.02% of their portfolio TORONTO, ONTARIO, A6 12,375,00012.4m $10.2m $10.2m 0.02% New
32 Jump Financial, LLC 0.12% of their portfolio Chicago, IL 12,000,00012.0m $9.9m $9.9m 0.12% New
33 Isabella Capital Management LLP 9.02% of their portfolio LONDON, X0 11,000,00011.0m $9.0m $9.0m 9.02% First filing
34 LORD, ABBETT & CO. LLC 0.03% of their portfolio JERSEY CITY, NJ 10,000,00010.0m $8.2m $8.2m 0.03% New
35 683 Capital Management, LLC 0.68% of their portfolio NEW YORK, NY 10,000,00010.0m $8.2m $8.2m 0.68% New
36 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 9,500,0009.5m $7.8m $7.8m 0.00% New
37 CAPSTONE INVESTMENT ADVISORS, LLC 0.06% of their portfolio NEW YORK, NY 8,500,0008.5m $7.0m $7.0m 0.06% New
38 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 6,740,0006.7m $5.5m $5.5m 0.00% New
39 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 6,378,0006.4m $5.2m $5.2m 0.00% New
40 OAKTREE CAPITAL MANAGEMENT LP 0.08% of their portfolio LOS ANGELES, CA 5,763,0005.8m $4.7m $4.7m 0.08% New
41 ParaFi Capital LP 1.27% of their portfolio NEW YORK, NY 5,500,0005.5m $4.5m $4.5m 1.27% New
42 Radcliffe Capital Management, L.P. 0.22% of their portfolio BALA CYNWYD, PA 5,000,0005.0m $4.1m $4.1m 0.22% New
43 Saba Capital Management, L.P. 0.14% of their portfolio NEW YORK, NY 5,000,0005.0m $4.1m $4.1m 0.14% New
44 Fort Baker Capital Management LP 0.46% of their portfolio Larkspur, CA 5,000,0005.0m $4.1m $4.1m 0.46% New
45 RPO LLC 4.73% of their portfolio Stamford, CT 5,000,0005.0m $4.1m $4.1m 4.73% New
46 Greenland Capital Management LP 0.60% of their portfolio NEW YORK, NY 5,000,0005.0m $4.1m $4.1m 0.60% New
47 BOOTHBAY FUND MANAGEMENT, LLC 0.08% of their portfolio NEW YORK, NY 3,750,0003.8m $3.1m $3.1m 0.08% New
48 SSI INVESTMENT MANAGEMENT LLC 0.20% of their portfolio Los Angeles, CA 3,685,0003.7m $3.0m $3.0m 0.20% New
49 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $2.5m $2.5m 0.01% New
50 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 2,761,0002.8m $2.3m $2.3m 0.00% New
51 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,615,0002.6m $2.1m $2.1m 0.00% New
52 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 2,250,0002.2m $1.9m $1.9m 0.00% New
53 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,883,0001.9m $1.5m $1.5m 0.00% New
54 PALISADE CAPITAL MANAGEMENT, LP 0.04% of their portfolio FORT LEE, NJ 1,689,0001.7m $1.4m $1.4m 0.04% New
55 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 1,509,0001.5m $1.2m $1.2m 0.01% New
56 Empowered Funds, LLC 0.02% of their portfolio NEWTOWN SQUARE, PA 1,250,0001.2m $1.0m $1.0m 0.02% New
57 Man Investment Partners (US) LP 1.28% of their portfolio NEW YORK, NY 1,000,0001.0m $819.3k $819.3k 1.28% First filing
58 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 400,000400.0k $329.2k $329.2k 0.00% New
59 ADVENT CAPITAL MANAGEMENT /DE/ 0.01% of their portfolio NEW YORK, NY 332,000332.0k $273.4k $273.4k 0.01% New
60 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 300,000300.0k $246.2k $246.2k 0.00% New
61 Ares Systematic Credit Ltd 0.20% of their portfolio LONDON, X0 300,000300.0k $247.1k $247.1k 0.20% First filing
62 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 226,000226.0k $186.1k $186.1k 0.00% New
63 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 225,000225.0k $184.7k $184.7k 0.00% New
64 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 100,000100.0k $81.9k $81.9k 0.00% New
65 SCOTIA CAPITAL INC. 0.02% of their portfolio TORONTO, A6 66,48766.5k $5.5m $5.5m 0.02% New
66 K2 PRINCIPAL FUND, L.P. 1.27% of their portfolio TORONTO, A6 15,00015.0k $12.4m $12.4m 1.27% New